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2022 (10) TMI 23 - AT - Income TaxAssessment u/s 153A - deduction claimed u/s 80IA(4) - HELD THAT:- Delhi High Court in the case of Pr. CIT v. Jaypee financial services Ltd [2021 (2) TMI 1186 - DELHI HIGH COURT] held that where AO during the course of post search proceedings under Section 153A against assessee-share trader found certain evidences showing client code modification done by assessee which were not for genuine reasons and, accordingly, made addition on account of such client code modification, since impugned addition was not made by AO based on any incriminating material found during search against assessee and assessment was not pending on date of search, impugned addition was unjustified and same was to be deleted. The Department has not been able to produce any material to suggest / substantiate that the assessment order was passed on the basis of any incriminating material found during the course of search. In the instant case, we observe that from the facts placed on record, there was no incriminating material found during the course of search on the basis of which deduction claimed under Section 80IA(4) was disallowed by the Ld. Assessing Officer and also confirmed by Ld. CIT(Appeals). In view of well settled proposition of law that completed assessment can be interfered by the Ao while making assessment u/s 153A only on the basis of some incriminating material unearthed during the course of search documents or undisclosed income or property discovered in the course of search which were not produced or not already disclosed or made in the course of original assessment, we are of the considered view that in the instant facts, the Ld. CIT(A) has erred in facts and in law in upholding the additions - Decided in favour of assessee.
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